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Fitch trims Mobilux notes
Fitch Ratings said it affirmed Mobilux 2 SAS's (BUT) long-term issuer default rating at B.
The outlook remains stable.
Fitch downgraded Mobilux Finance SAS' €380 million senior secured notes to B/RR4 from B+/RR3.
“The issuer default rating and the senior secured rating are now at the same level,” the agency said in a news release.
“The affirmation of the issuer default rating and the stable outlook reflect BUT's satisfactory business profile, comfortable liquidity as well as the strong performance seen during YTD19.
“This offsets the slower-than-expected deleveraging due to the company's underperformance for the financial year ended June 2018, and our expectation that the competitive environment will remain challenging.”
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